- Push-out Score determined
- After about 11 years in the position
- Praise and thanks for Scannell
- Pat Roche taking over
- Scannell will remain as Non-Executive Chairman at Moog
- Scannell kept it short and said 53 words
(exechange) — East Aurora, New York, November 16, 2022 — John Scannell, chief executive of Moog, leaves his position. As announced by Moog Inc. in a news release and in a regulatory filing published on Wednesday, November 16, 2022, John R. Scannell leaves his post as chief executive officer at the manufacturer of precision control components, after about 11 years in the role, effective February 1, 2023.
John Scannell’s duties as CEO will be taken over by Patrick J. (Pat) Roche, currently Chief Operating Officer at Moog Inc.
No reason given
In the announcement, Moog did not explicitly explain the reason for the move.
Scannell will remain as Non-Executive Chairman at Moog
“Moog Inc. (NYSE: MOG.A and MOG.B) announced today that John Scannell, Chairman and Chief Executive Officer, has announced his intention to retire as CEO effective February 1, 2023. He will continue to serve on Moog’s Board of Directors as Non-Executive Chairman,” Moog said.
“Retire”
Moog said: “Moog Inc. (NYSE: MOG.A and MOG.B) announced today that John Scannell, Chairman and Chief Executive Officer, has announced his intention to retire as CEO effective February 1, 2023.”
Share price increase since November 2021
The announcement follows an increase in Moog Inc.’s share price of 15% since November 2021.
In the position of CEO since 2011
John Scannell became CEO of the Company in 2011.
Scannell joined the Company in 1990 as an Engineering Manager of Moog Limited in Ireland and later moved to Germany to become Operations Manager of Moog GmbH.
In 1999, he became the General Manager of Moog Limited in Ireland, and in 2003 moved to the Aircraft Group as the Boeing 787 Program Manager and was subsequently named Director of Contracts and Pricing and elected a Vice President of the Company in 2005.
He was elected Chief Financial Officer in 2007, a position he held until December 2010, at which time he was elected President and Chief Operating Officer.
In December 2011, Scannell was elected Chief Executive Officer and was named Chairman of the Board in January 2014.
In addition to an M.B.A. from The Harvard Business School, Scannell holds B.S. and M.S. degrees in Electrical Engineering from University College Cork, Ireland.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding John Scannell’s move on a scale of 0 to 10.
exechange reached out to Moog and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 47.2022 ($).